ASX-listed Horizon Oil (HZN) is weighing a takeover approach from a larger rival, The Australian Financial Review reports.
The oil and gas junior is believed to be in discussions with a suitor, with Santos, Roc Oil and AWE named as possible buyers.
Horizon, currently trading with a market capitalisation of $436 million, could announce a deal as early as this week, the AFR said.
Stock in Horizon jumped over 10% yesterday despite the company releasing no statements to the market.
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